HVAC Business Owner in Charleston, SC Saves $208,321 in Taxes
September 11, 2021
Case Study of a Heart Attack Survivor
September 11, 2021
RESULTS
A 2017 tax deduction of $226,000 from the real estate investment reduced the anesthesiologist’s tax liability by $76,000, delivering a refund of over $89,000!
BACKGROUND
A single anesthesiologist with W-2 income of $450,000 and receiving a K-1 from minority ownership in two medical related entities with an additional $100,000 of income being passed through. The doctor had zero deductions available due to various phase-outs, and limited options to make corporate level changes to plan for taxes, and was paying over $150,000 each year to the government. Current debt payoff was a priority for the client, rather than long term savings and retirement strategies.
PLAN
Based on the client’s preferences, cash flow needs, and budget, we designed their custom tax plan with:
- A $40,000 real estate investment opportunity, when properly administered, generates large annual deductions to off set wage income and is not limited by passive real estate investment rules.
